Netflix enters the TV game with first original series

Streaming portal outbids HBO for Kevin Spacey House of Cards drama

Earlier this week we reported that US movie streaming service Netflix was planning to take on the cable TV world by buying the rights to its first original series.

Well now it has.

The monthly subscription service has outbid cable giant HBO for the new Kevin Spacey drama House of Cards and signed-on to screen 24 episodes before it becomes available anywhere else.

It's the first-time Netflix, which has pretty much consigned Blockbuster to the grave, has bought an original TV show to stream exclusively and opens the door to completely change the US cable industry.

New dawn

Netflix reckons that as well as giving its subscribers access to first-run content for the first time, the move is also financially viable as it won't have to pay to license the content from traditional networks.

"it won't be any more expensive than licensing a popular show off of a network," says Netflix content boss Ted Sarandos.

"If those shows are not going to be made widely available in decent windows, then my other alternative would be to compete with those guys for those shows."

House of Cards is based on the British book of the same name and will be produced by Social Network director David Fincher. It will begin screening at the back end of 2012.